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Today, the European Insurance and Occupational Pensions Authority (EIOPA) responded to the consultation of European Commission on a new digital finance strategy for Europe. In its response EIOPA highlights that a sound approach to financial innovation should strike a balance between enhancing...
The Danish Financial Supervisory Authority has refused to grant Gefion Insurance A/S an extension of three months of the recovery period and therefore has withdrawn the company’s license as insurance company.Gefion Insurace A/S offers insurance through agents in Europe. The company primarily...
The European Insurance and Occupational Pensions Authority (EIOPA) published today its second Discussion Paper on Methodological Principles of Insurance Stress Testing. In 2019 EIOPA initiated a process of enhancing its methodology for bottom-up stress testing which resulted in the first...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published the findings of its peer review of the Regular Supervisory Report (RSR). The peer review examined how and to what extent the proportionate approach set out under the Delegated Regulation has been implemented among...
Today, EIOPA published its report on supervisory activities in 2019 highlighting activities and achievements throughout the course of the year, covering both prudential and conduct of business supervision.A key area of work in 2019 focused on proposing amendments to Solvency II in the context of...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its 2019 Annual Report, setting out its activities and achievements of the past year.Throughout the course of the year, EIOPA continued to play an essential role in the supervision of insurance and pensions in...
The [node:6753:link]{List of Internationally Active Insurance Groups (IAIGs) headquartered in the EU as Link} has been updated with the following insurance groups:AXABNP Paribas CardifCNP AssurancesCOVEACrédit Agricole AssurancesGROUPAMASCORSOGECAPFor the up to date list of IAIGs please check the...
The European Insurance and Occupational Pensions Authority (EIOPA) has responded to the European Commission’s consultation on revision of the Non-Financial Reporting Directive (NFDR). EIOPA welcomes the initiative to revise the NFRD. Insurance undertakings and pension funds are at the forefront of...
Today, the European Insurance and Occupational Pension Authority (EIOPA) launched a public consultation on a ‘Discussion paper on (re)insurance value chain and new business models arising from digitalisation’.Technology continues to evolve, bringing new opportunities, social change and new...
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) will organise on 2 July 2020 a public hearing on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.The aim of the public hearing is to explain and...
EIOPA supports the views expressed by the European Systemic Risk Board (ESRB) regarding the importance of improving the monitoring of liquidity risks in the insurance sector with the aim to enhance Europe’s preparedness to potential future shocks.In this context, as a response to Covid-19, EIOPA...
EIOPA has changed the frequency of current extraordinary processes for risk-free interest rate term structures (RFR) and symmetric adjustment to equity risk (EDA) from a weekly basisto every two weeks.The new frequency will apply from the week starting on 25 May. A calendar for the next...
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the fourth quarter 2019 Solvency II data.Despite the fact that some indicators used in this Risk Dashboard do not capture the latest market development in the context of Covid-19...
The European Insurance and Occupational Pensions Authority (EIOPA) has published the list of Internationally Active Insurance Groups (IAIGs) headquartered in the EU.IAIGs are the focus of the International Association of Insurance Supervisors (IAIS) Common Framework for the Supervision of...
The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS) to amend the Delegated Regulation on the risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining...
Due to COVID-19 outbreak, in the coming weeks European Insurance and Occupational Pensions Authority will carry out extraordinary calculations on weekly basis to monitor the evolution of the relevant risk-free interest rate term structures (RFR) and the symmetric adjustment to equity risk (EDA)...
EIOPA, in close coordination with the European Commission, has decided to deliver its advice to the European Commission at end December 2020, to take into account the importance of assessing the impact of the current Covid-19 situation on the Solvency II Review.EIOPA earlier announced on 17 March...
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) have today issued a Consultation Paper seeking input on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.These standards have been developed...
Today the European Insurance and Occupational Pensions Authority has issued a[node:6723:link]{Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pens [...] ons sector as Link}.The statement recognises the stabilising role that institutions for occupational...
EIOPA’s Board of Supervisors elected two new members to the Management Board: Ms Åsa Larson, Executive Director for Insurance at the Swedish Finansinspektionen, effective from 30 January 2020, as well as Ms Else Bos, Executive Board Member and Chair of Prudential Supervision at De Nederlandsche...